With more and more people choosing to drive a car; it comes as no surprise that one in three households in the UK now have two or more cars. Couples will often have a car each, some people share a home with friends and have their own car and of course, there are also more and more grown up children living at home which means that there is going to be an increased number of cars.
Insuring all these cars can be expensive, especially if you insure them separately. However, the good news is that there is such a thing as multi-car insurance.
But what is multi-car insurance and what do you need to know about it?
What is multi-car insurance?
The idea of a multi-car insurance policy is that it allows for up to 6 cars to be registered under one single policy to one address. Whilst all the cars are registered under the same policy, each person has their own level of cover.
You can decide how much excess you want to pay on your vehicle and you will be able to build up your No Claims Discount as you normally should. The good news is that if one person is involved in an accident, then the No Claims Discount for the others on the policy won’t be affected.
Is it worth taking out a multi-car policy?
There are variety of reasons why you might want to take out a multi-car policy. The first is that it keeps insuring cars in the household much easier and simpler. You only have one policy to think about, one policy to renew and one policy to manage.
Another reason to take out multi-car insurance policies is because they will save you money on your insurance. You will often receive a discount on the cars that you are insuring, which is good news for you all.
When you take out a multi-car policy you also have peace of mind that your entire household is not only going to be covered, but also be covered to the right level. This is ideal if you have children living in your house and you want to ensure that they are driving with an insurance policy that is going to protect them and their car.
Can I add one car and then add more?
If you are not sure how many people will want to be within your multi-car policy, or you are waiting for someone to join a house or pass their test. Then the good news is that you can still arrange for a policy on one car and then add other cars at a later date. You will just need to advise the insurance provider that you intend to make the policy a multi-car one at a later date and you will be ready to go.
So, whether you are a student living in a shared house, a couple who have a car each or perhaps a family with adult children; setting up a multi-car insurance policy could be the exact thing that you are looking for to save you money and save you time too.